Steve's DFS Tips

Steve Collings
Steve Collings Registered Posts: 997 Epic contributor 🐘
Hi All,

I am assuming (well hoping) that you are all hard at work studying for the December diet of exams! A number of students have asked me various questions about DFS/FNST and how best to study for it. I covered the main areas about studying for DFS in this thread and you should all have a read of my Success at DFS article. I also wrote an article on preparing for the DFS exam in December 2009, the contents of which are particularly relevant to December 2010, so it might be worth a read of that.

You should also purchase (if not already purchased) Clare Finch's IFRS Guide which will help clear the water in terms of the IFRS/IAS relevant to DFS and help with the common question pivotal to DFS which is 'how do I study the accounting standards?'

The following articles are also relevant to DFS which you should print off and read:

Accounting for intangible assets
Leasing and hire purchase contracts
Provisions and contingencies
Statement of cash flows

Please note where articles refer to UK GAAP, these are for illustrative purposes only - DFS/FNST will examine IFRS/IAS, so do not get confused!

Once again I apologise for not being able to run lectures for the December sitting due to other work commitments, but I will be putting up threads to help you with your DFS studies over the next couple of months.

Hope that helps so far!



  • Gill Gittings
    Gill Gittings Registered Posts: 121 Dedicated contributor 🦉
    I would just like to add that I bought claires book following Steve's recommendation as I thought if Steve is recommending it then it must be good and it helped with my F7 ACCA studies. It is brill ! Steve I also bought your book and that was good as well :) I'm starting the P papers now and will be using your books for the dreaded P2
  • Andypandy
    Andypandy Registered Posts: 526 Epic contributor 🐘
    I'm far too busy lowering the standards (they're ermm..quite straight laced)on 'Accountancystudents' to get any F5 & F7 studying done at the moment. Gill, good luck on P2, and get yourself over to the other site so we can show 'that lot' how it's done (or not, lol)
  • Barry
    Barry Registered Posts: 101 Dedicated contributor 🦉
    Thanks Steve. Our tutor told us to read your articles at college this week. I struggle with the consolidation accounts , any advice on this would be helpful.
  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
    Hi Barry,

    This article looks at the consolidated statement of financial position and this one looks at the consolidated statement of comprehensive income.

    Hope that helps for now.

  • jewels.p
    jewels.p Registered Posts: 1,774 Beyond epic contributor 🧙‍♂️
    Listen to Steve all you guys doing DFS in December! He defo helped me pass in June. As a Distance Learner I was struggling with this subject but with all his help and advice I found the exam pretty straightforward and believe me when I started it I just couldnt understand most of it.

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